The Centre on Tuesday said it would spend over Rs.15,000 crore for reviving 36 sick Central public sector enterprises (CPSEs).
“Based on the recommendations of the Board for Reconstruction of Public Sector Enterprises, the government has approved revival of 36 CPSEs at a total cost of Rs.15,254 crore, including fresh cash infusion of Rs.2,921 crore,” said Union Minister of State for Heavy Industries and Public Enterprises Arun Yadav said.
The government has approved infusion of Rs.30 crore towards working capital by way of loans for revival of Hindustan Photo Films Company in Tamil Nadu, the Minister said in a written reply to the Rajya Sabha.
As per the Public Enterprises Survey 2007-08, there were 214 operational CPSEs, of which 160 were profit-making and 53 were loss-making and one unit was neither loss making nor profit making, he added.
Referring to due of employees of 11 CPSEs that are under the administrative control of the Department of Heavy Industry, Mr. Yadav said Rs.129.58 crore was the total amount outstanding on November 30. “The Department of Heavy Industry has been giving budgetary support in the form of loan to CPSEs, under its control, for payment of salary/wages and statutory dues. The salary/wages and statutory dues to such CPSEs have been paid up to June, 2009,” he informed. CPSEs were expected to pay the wages, salaries and statutory dues to their employees regularly out of their own resources. The government provided financial assistance by way of non-plan loans to certain CPSEs to supplement their efforts for payment of wages and salaries and statutory dues when they are unable to generate required resources, he added.
